ISLAMABAD: The government has reiterated to restart privatisation of Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM), as accumulated debt and losses of these two entities had swelled to the unprecedented level despite extending bailout packages.
Federal Minister for Privatisation Daniyal Aziz said that government would resume the privatisation of loss-making public sector entities (PSEs) including PIA and PSM. He further said that accumulated debt and losses of Pakistan Steel Mills had swelled to Rs276 billion by the end of June 2017. He said the government has extended bailout packages to PSM amounting to Rs 76 billion.
The minister made these remarks in meeting of National Assembly’s standing committee on privatisation, which was held under the chairmanship of Syed Imran Ahmed Shah, MNA. He further said that the government could save Rs 600 billion annually by privatising the loss-making state owned entities (SOEs).
